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Marketing plan

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The following presentation was created during the marketing management internship offered by Prof. Sameer Mathur, IIM Lucknow.

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Marketing plan

  1. 1. Marketing Plan for Financial Estimator
  2. 2. Agenda  Executive Summary  Situation Analysis  Goal  Strategy  Tactics  Implementation
  3. 3. Executive Summary
  4. 4. Current Market Scenario  In the present world scenario, there are people with various demographics (age, education status, job status) out of which there is a small fine segment which will find interest in our application. Identifying that particular group is the task which plays a vital role in success of an app.  App’s success is measured by the following entities  No. of downloads  No. of good reviews  User Ratings  User’s Attrition  Identifying and targeting potential customers should be the company’s primary goal.  Growing in no. of smart phone users also facilitates the company to attract more customers due to the inquisitiveness in them.
  5. 5. Why Mobile App Marketing?  Attract the crowd  Customer is the person who actually determines app’s success so you’ve to attract them  Convey the information  It comes handy when it comes to convey the best and richest experience to customer  Make the app discoverable  Enables people to identify app more easily  Interaction and increased usage  App will have more downloads and increases chance of being used regularly
  6. 6. Our Financial Estimator App Potentiality  According to one of the leading data statistics company’s (Digi- Capital) study, the prediction of revenue for non-gaming apps are increasing for the current financial year.  An estimate of 61.3% increase is predicted.  A company can achieve profits, if it sets up a methodology to identify potential customers and implement a good marketing strategy.
  7. 7. Little Information about App  Financial Estimator is a powerful and robust calculator which assists to set investment plans and savings goals by targeting working class of different age groups with different investment and savings plans. It also assists in estimating future value of savings based on a periodic fixed interest rates at given compounding interests.  Our app gives user with various functions like:  Estimate Savings based on the income  Gives suggestions of optimum returns  Provides Investment advises  Long term and short term investment proposals depending on availability of resources  Advises better liquidity management to meet the urgent requirement of funds while meeting the requirements of investments
  8. 8. Situation Analysis
  9. 9. Company Overview  Our app helps out people who find difficulties in choosing savings and investment plans.  Offers unique features to customers which provide them an opportunity to access customized savings plans.  Gives better and intelligent advises for urgent liquidity management.  Our app aims in providing user a rich experience by making complex data calculations into simple numbers and visualizations.  Our app also suggests users long term and short term investment proposals depending on availability of resources
  10. 10. Competitors vs Our App  Provide Customer Centric support  Implementation of analytics to our app to target customers more effectively based on the data of existing customers  Targets people with middle and high income groups  Different investment and saving plans for different age groups  Investment advices includes risk and safety parameters  Attractive and user friendly Interface  Enabled to calculate EMI along with interest amount on a given advance  Interface to the bank account  Provides details about ROI  Inbuilt safety features for accessing the premium features to ensure safety and security of data
  11. 11. Market Overview  People are shifting their trends towards mobile app technology  Increasing Working Class people  Increase in purchase capacity of people  Increased confusion among people about decisions related to investment plans  Increase in methods of marketing in a more effective manner
  12. 12. Target Customers  Customers with High income and Medium income are the main target due to the following properties:  Large population base who are expected to have smart phones  Profitable enough to serve  Effective marketing strategies can be implemented with this class of people  Respond differently towards promotions and marketing offers
  13. 13. Goal
  14. 14. Vision of the App  10,000 + downloads within a week after launch  1,00,000 + downloads within 3 months of launch  $2million USD revenue generation  At least 4.5 stars average rating on app stores
  15. 15. Target Market
  16. 16. Customer Needs  Assists the users who are keen on a savings plan and are facing trouble in choosing one  Users who need an investment guide to make more reliable and intelligent decisions  Users who need information about risk involved in investments  Users who want to know in-depth details about ROI  Users who are interested in making investments at periodic intervals or SIP (Systematic Investment Plans) investments
  17. 17. Customers’ Profile  Extensive Smartphone users  Have financial capacity and surplus resources for investments and savings  Good educational background and complete financial awareness  Have strong inclination towards investments and savings
  18. 18. Collaborators  Suppliers  Wikipedia Page  Quora Threads  Content Blogs  News Channels and papers  Channel Members  Google Play Store  Apple Play Store  Windows Marketplace  Communication Partners  Facebook posts  LinkedIn pages  Twitter tweets  Sponsored advertisements on other apps
  19. 19. Company Goals Goals Supplier Get initial funding sources Company Promotions Channel Members Increasing app reputation Communication Partners Customer Targeting Increase Domain Value
  20. 20. Competitors and how we are Superior  Financial Calculators  No good reviews  According to reviews, it does many calculation mistakes  Expense Manager  Doesn't have all the features  Inferior User Interface
  21. 21. Parity & Differences Points of Parity  Meets the requirements of customers in general  Inputs are same  Provides details of accumulated amount at the end of the specific period  Provides a plan detail of accumulation with specific reference to retirement Points of Difference  Targets people with middle an high income groups  Different investment and saving plans for different age groups  Investment advices includes risk and safety parameters  Attractive and user friendly Interface  Enabled to calculate EMI along with interest amount on a given advance  Interface to the bank account  Provides details about ROI  Inbuilt safety features for accessing the premium features to ensure safety and security of data
  22. 22. Context  Economic Context  App markets will grow by 25% by 2020  Internet and Smartphone contribution to GDP is around 3.5%.  Technology Context  Presence of 3G & 4G  About 250 Million smartphone users in India  Social Cultural Context  Increase in time spent on apps  Increase in diversity of people using technology
  23. 23. For Customer Value  To increase value among customers, we have to do the following:  Identify competitors and analyze them by conducting a market research  Introduce new features which are not there in competitor’s app  Apply analytics to target customers more effectively and give them promotions to become loyal users
  24. 24. For Collaborators Value  Different features of app should be promoted so that more collaborators get attracted towards our app.  Collaborating app with other frequently downloaded app will increase  Reachability of our app  Increase downloads of our app
  25. 25. For Company Value  Identifying company goals and preparing a basic structure to follow them  Implementing good inter personal relationships by respecting everyone’s thoughts  Effective communication with investors and collaborators to increase funding
  26. 26. Summary of Value Proposition For Customers • Give accurate calculations • Give appropriate suggestions of investment plans For Collaborators • Giving tough competition to other similar apps • Getting good ratings and reviews For Company • Providing good work culture so that every employee sees a steady growth • Getting a high ROI
  27. 27. Tactics
  28. 28. Free Features  Investment calculator  Simple Interest and Compound Interest Calculator  EMI Calculator  Investment Guide
  29. 29. Paid Features  Information about Risk involved in investment plans  Information about Safety parameters  In depth details of return on Investments  Comparative figures about various investment plans to enable better decision making  Interface to bank account
  30. 30. Brand  The shown figure is our App Logo and App Name  The bold red line is our Slogan  App Logo and App Name self explains the slogan. ”If you follow the suggestions given by our estimator, your house grows bigger in size in the near future.” Financial Estimator Shows investment plans to grow your house even bigger
  31. 31. Pricing  Initially there are two pricing systems for premium features. They are:  One with the collaborator app (6$ for both apps – 3$ for our app)  One with the in app premium content (4.5$)  The price is strategically selected to achieve maximum number of downloads and purchases
  32. 32. Incentives  Referral awards will be there for users  If a free content user refers 3 members, that particular user will get 10% off for purchasing premium content  Badges will also be given to users who will be using the app regularly and invest as suggested
  33. 33. Communication  Initial Promotional Steps  Press Release  Facebook and Twitter release  Work of mouth  Promo Videos  Search Engine Optimization  Advanced Promotional Steps  Newspaper Advertisements  Google Ads  Own Website  Pinterest
  34. 34. Distributions  Pre Loading of Free App on New Smartphones  Showing App on the recommendations  Showing App in Appoke  App listed on sites like investopedia and similar blogs so that it is recommended
  35. 35. Implementation
  36. 36. Organizational Structure
  37. 37. Organizational Structure
  38. 38. Relationship with Collaborators
  39. 39. Relationship with Collaborators  The following are the details of Collaborators:  Suppliers includes - Wikipedia Page, Quora Threads, Content Blogs, News Channels and papers  Channel Members includes - Google Play Store, Apple Play Store, Windows Marketplace  Communication Partners includes - Facebook posts, LinkedIn pages, Twitter tweets, Sponsored advertisements on other apps
  40. 40. Relationship with Collaborators Involving Collaborators and maintaining proper relationships with them requires comprehensive planning and well-defined communication channels at all levels. The collaborative structure determines authority, and risk is much greater because each partner contributes its resources and reputation. Partners pool or jointly secure the resources, and share the results and rewards. In order to obviate this, the following aspects will be followed while defining relationship with collaborators.  Complying with internal procedures relating to the selection and management of relationships with Collaborators;  Expressly referring in all collaboration contracts not involving an employer/employee relationship, to his/her obligation to adhere to the Principles of the Code of Ethics.
  41. 41. Business processes- strategy and tactics
  42. 42. Business processes - strategy and tactics  At the outset, the attention will be towards advertising the product i.e. the newly developed mobile app so as to reach out to the targeted group by making extensive use of social networking such as Facebook, LinkedIn, Twitter, Wikipedia page, Quora Threads, Blog and also making use of traditional marketing channels such as news channels and papers.  Suggestions and reviews posted by the customers will be analysed comprehensively and necessary changes will be carried out in the app, from time to time.  Marketing strategies and processes will be kept dynamic and will be reviewed at regular periodic intervals depending upon the customer response and feedback, the results shown from time to time, the acceptability of the product etc.
  43. 43. Business processes - strategy and tactics  Conduct market research for understanding the requirement of the target customers  Develop and design customer-driven marketing strategy  Define core objective of the proposed mobile App  Well-defined organizational set-up  Construct marketing strategies  Develop integrated marketing channels  Develop suitable pricing strategies  Manage marketing promotions  Manage customer feed-back  Review marketing effectiveness
  44. 44. Implementation schedule
  45. 45. Activity Timeline Conduct market research and understand the requirements of the target customers 2- months Develop and design customer-driven marketing strategy 2- monthsDefine core objective of the proposed mobile App and product development Well-defined organizational set-up 1- monthConstruct marketing strategies Develop integrated marketing channels Develop suitable pricing strategies Manage marketing promotions Manage customer feed-back - Review marketing effectiveness -
  46. 46. Disclaimer Created by Siddartha Mashetty, IIT Kharagpur, during a marketing internship, by Prof. Sameer Mathur, IIM Lucknow.

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